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First-time home buyer programs in Southbridge Town, MA

Quick answer

First-time buyers in Southbridge Town, MA can use 3%-down conventional loans (up to the $832,750 Worcester County conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 2 verified city, county or statewide assistance programs. On the $267,000 median home, 3% down is about $8,010 and the estimated payment is $2,286/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $59,397; value-to-income ratio 4.50. Southbridge Town ranks 82 by home value and 73 by population among 89 places in our MA dataset.

What does a first-time buyer loan cost on a typical Southbridge Town home?

ItemSouthbridge Town
Median home value (Census ACS)$267,000
Massachusetts median home value$525,800
Down payment (3%)$8,010
Loan amount$258,990
Estimated monthly payment (PITI + MI)$2,286
Income needed (28% / 36%)$98,000 / $77,000
Worcester County 2026 conforming limit (1 unit)$832,750
Max purchase price at the limit$858,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Massachusetts's 1.11% effective property tax rate (Census ACS), $2,134/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Southbridge Town?

Southbridge Town is in Worcester County. Conventional 3%-down loans go up to the $832,750 conforming limit (price ≈ $858,000); FHA loans go up to $545,100.

The Southbridge Town median home value of $267,000 is 49% below the Massachusetts median, and within what the county limit supports.

Which down payment assistance programs can Southbridge Town buyers use?

First-time buyer loans in nearby cities

WebsterPalmer TownWorcesterSpringfieldMilfordLongmeadow

First-time buyer loan FAQs for Southbridge Town

On the $267,000 median: 3% conventional ≈ $8,010, 3.5% FHA ≈ $9,345, and 0% for eligible VA or USDA buyers. Conventional loans above $832,750 in Worcester County become jumbo loans.

At the $267,000 median value (below the Massachusetts median of $525,800), the estimated payment of $2,286/month at 7.18% needs about $98,000 a year under the 28% housing guideline, or $77,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.